Halibut/Sablefish | February 01, 2023
IFQ February 2023
The 2022 Halibut IFQ market started off strong, but tapered off by the summer, with only a few end-of-year sales. 3A IFQ prices peaked in May, but proceeded to drop 32% by December. Supply continues to outpace demand in all areas, with plenty of unblocked available. Activity is likely to remain limited until the IPHC makes its recommendations.
The Sablefish IFQ market was very slow throughout 2022. Weak ex-vessel prices, large TACs, and high availability of leased IFQ resulted in reduced sales activity. Unharvested IFQ remained in all areas, with 25% of the TAC left in the water state-wide. Reccommendations are for increases to AI, BS, and WG, with status quo or slight decreases to CG, SE, and WY. We expect sales activity to remain relatively limited until ex-vessel prices improve.